SCI Reviews Food Price Changes in Iran

EghtesadOnline: The Statistical Center of Iran has released a report reviewing price changes experienced by food products during the 10th month of the current Iranian year (Dec. 22, 2019-Jan. 20).

News ID: ۷۴۹۵۹۳

02 February 2020

The report shows that the biggest month-on-month price rise for a food item was recorded for onions with 24.4%. A kilogram of onions was sold at 49,638 rials (37 cents), according to Financial Tribune.

The second and third biggest month-on-month price increases during the period under review were registered for bananas with 9.4% and lentils with 3.4%, SCI reported on its website.

A kilogram of bananas was sold at 139,379 rials ($1.03) and a kilogram of lentils went for 110,308 rials (82 cents) last month.

Eleven out of 24 food items saw price declines in the month compared with the previous month. The sharpest price decreases were recorded for tomatoes with 23.1%, followed by cucumbers with 10% and oranges with a 6.9% MOM deflation.

A kilogram of tomatoes were sold at 82,766 rials (61 cents), a kilogram of cucumbers went for 59,326 rials ($44) and a kilogram of oranges was sold at 52,954 rials (39 cents).

Compared with the same period of last year, retail prices for tomatoes during the month under review increased by 92.1%, which was the highest year-on-year price rise for a food item last month.

The second and third biggest year-on-year price rises in the same month among food items were registered for packed foreign tea with 87.1% and onions with 66.6%. A kilogram of packed foreign tea was sold at 584,056 rials ($4.3) last month.

The average goods and services Consumer Price Index in the 12-month period ending Jan. 20, which marks the final day of the 10th Iranian month, increased by 38.6% compared with last year’s corresponding period.

The center put the annual inflation rate for the preceding Iranian month, which ended on Dec. 21 at 40%.

The consumer inflation for the month under review (Dec. 22, 2019-Jan. 20) registered a year-on-year increase of 26.3% compared with the similar month of last year.

The overall Consumer Price Index (using the Iranian year to March 2017 as the base year) stood at 195.4 last month, indicating a 0.8% rise compared with the month before.

CPI registered a YOY increase of 26.2% for urban areas and 27% for rural areas compared with the similar month of last year.

The overall CPI reached 194.4 for urban households and 201.1 for rural households, indicating a month-on-month increase of 0.9% and 0.5% for urban and rural areas, respectively.

SCI put urban and rural 12-month inflation for the month under review at 38% and 42.2% respectively.

The highest monthly growth in the index among 12 groups of the basket of consumer goods and services purchased by households in the Iranian month ending Jan. 20 was recorded for “transportation” with 3% while a 0.4% monthly deflation was posted for “food and beverages”.

With a coefficient of 26.64%, the Consumer Price Index of “food and beverages” stood at 223.9 in the month ending Jan. 20, indicating a 0.4% decrease compared with the month before.

The “foods and beverages” index registered a year-on-year increase of 24.5% compared with the similar month of last year.

CPI of “food and beverages” in the 12-month period ending Jan. 20 increased by 52.4% compared with last year’s corresponding period.